UCLA Presents voteview.com beta 3

Welcome! We have just updated Voteview's aging codebase. In the process, we have fixed some nagging issues, added a few new features, and improved performance. If you notice anything that used to work that no longer does, please let us know.

118th Congress > House > Vote 941

Date: May 22, 2024

Result: 204-209 (Failed)

Clerk session vote number: 223

Sponsor: THOMPSON, Glenn (R-PA)

Bill number: HR4763

Question: On Agreeing to the Amendment

Description: Casar of Texas Part B Amendment No. 1

Bill summary:

Financial Innovation and Technology for the 21st Century Act

This bill establishes a regulatory framework for digital assets.

The Commodity Futures Trading Commission (CFTC) must regulate a digital asset as a commodity if the blockchain, or digital ledger, on which it runs is functional and decentralized. The bill classifies a blockchain as decentralized if, among other requirements, no person has unilateral authority to control the blockchain or its usage, and no issuer or affiliated person has control of 20% or more of the digital asset or the voting power of the digital asset. In addition, the bill provides the CFTC with exclusive regulatory authority over cash or spot markets for digital commodities.

The Securities and Exchange Commission (SEC) must regulate a digital asset as a security if its associated blockchain is functional but not decentralized. However, the bill establishes certain exceptions to SEC regulation for digital assets that limit annual sales, restrict nonaccredited investor access, and satisfy disclosure and compliance requirements. The bill also sets forth requirements for primary and secondary market transactions.

The CFTC and SEC must jointly issue rules to define terms and exempt dually registered exchanges from duplicative rules.

Bill titles: To provide for a system of regulation of digital assets by the Commodity Futures Trading Commission and the Securities and Exchange Commission, and for other purposes.

Links for more info on the vote: congress.gov

Loading graphics...

Error!

Member Vote Map

Note: This map combines minor parties to increase visual clarity. Click here to view all parties separately.

Vote Ideological Breakdown

This chart describes how members voted on the rollcall. Members are placed according to their NOMINATE ideological scores. A cutting line divides the vote into those expected to vote "Yea" and those expected to vote "Nay". The shaded heatmap reflects the expected probability of voting "Yea". You can select points or regions to subset the members listed above and below.

Votes

(Sort by , , , , )

Selected: of from including with NOMINATE scores within .